Kentucky Statutes 304.9-200 – Contents of license — Change of address — Refundability of fees
Current as of: 2024 | Check for updates
|
Other versions
(1) The license issued under this subtitle or to a surplus lines broker, life settlement broker, or life settlement provider shall contain the licensee’s name, city and state of principal place of business address, personal identification number, and the date of issuance, the lines of authority, and any other information the commissioner deems necessary.
(2) The licensee shall inform the commissioner in writing in a format acceptable to the commissioner of a change of address or change of legal name within thirty (30) days of the change.
(3) After completion of application for a license, completion of any prelicensing education required under this chapter, payment of applicable fees, and the taking and passing of any examination required under this chapter, the commissioner shall promptly consider the application. If the commissioner finds that the applicant has fully met the requirements for licensure, the commissioner shall promptly issue the license to the applicant; otherwise, the commissioner shall refuse to issue the license and promptly notify the applicant of the refusal, stating the grounds thereof.
(4) If a license is refused, the commissioner shall promptly refund any appointment fee tendered with the license application. All other fees for application for license or examination shall be deemed earned when paid and shall not be refundable.
(5) In order to assist in the performance of the commissioner’s duties, the commissioner may contract with nongovernmental entities, including the National Association of Insurance Commissioners or its affiliate or subsidiary, to perform ministerial functions, including the collection of fees or data related to licensing.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1059, effective July 15, 2010. — Amended 2008 Ky. Acts ch. 32, sec. 16, effective July 15, 2008. — Amended 2002
Ky. Acts ch. 273, sec. 21, effective July 15, 2002. — Amended 2000 Ky. Acts ch.
393, sec. 17, effective July 14, 2000. — Created 1970 Ky. Acts ch. 301, subtit. 9, sec.
20, effective June 18, 1970.
Legislative Research Commission Note (7/15/2010). A reference to the “executive director” of insurance in subsection (4) of this section, as amended by 2010 Ky. Acts ch. 24, sec. 1059, has been changed in codification to the “commissioner” of insurance to reflect the reorganization of certain parts of the Executive Branch, as set forth in Executive Order 2009-535 and confirmed by the General Assembly in 2010
Ky. Acts ch. 24. This change was made by the Reviser of Statutes pursuant to 2010
Ky. Acts ch. 24, sec. 1938.
(2) The licensee shall inform the commissioner in writing in a format acceptable to the commissioner of a change of address or change of legal name within thirty (30) days of the change.
Terms Used In Kentucky Statutes 304.9-200
- Appointment: means a notification filed with the insurance department that an insurer has established an agency relationship with a producer. See Kentucky Statutes 304.9-020
- City: includes town. See Kentucky Statutes 446.010
- Contract: A legal written agreement that becomes binding when signed.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) After completion of application for a license, completion of any prelicensing education required under this chapter, payment of applicable fees, and the taking and passing of any examination required under this chapter, the commissioner shall promptly consider the application. If the commissioner finds that the applicant has fully met the requirements for licensure, the commissioner shall promptly issue the license to the applicant; otherwise, the commissioner shall refuse to issue the license and promptly notify the applicant of the refusal, stating the grounds thereof.
(4) If a license is refused, the commissioner shall promptly refund any appointment fee tendered with the license application. All other fees for application for license or examination shall be deemed earned when paid and shall not be refundable.
(5) In order to assist in the performance of the commissioner’s duties, the commissioner may contract with nongovernmental entities, including the National Association of Insurance Commissioners or its affiliate or subsidiary, to perform ministerial functions, including the collection of fees or data related to licensing.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1059, effective July 15, 2010. — Amended 2008 Ky. Acts ch. 32, sec. 16, effective July 15, 2008. — Amended 2002
Ky. Acts ch. 273, sec. 21, effective July 15, 2002. — Amended 2000 Ky. Acts ch.
393, sec. 17, effective July 14, 2000. — Created 1970 Ky. Acts ch. 301, subtit. 9, sec.
20, effective June 18, 1970.
Legislative Research Commission Note (7/15/2010). A reference to the “executive director” of insurance in subsection (4) of this section, as amended by 2010 Ky. Acts ch. 24, sec. 1059, has been changed in codification to the “commissioner” of insurance to reflect the reorganization of certain parts of the Executive Branch, as set forth in Executive Order 2009-535 and confirmed by the General Assembly in 2010
Ky. Acts ch. 24. This change was made by the Reviser of Statutes pursuant to 2010
Ky. Acts ch. 24, sec. 1938.